Muscat: Oman’s Muscat Securities Market – or MSM – has been renamed following the issuance of a Royal Decree today [Wednesday, January 6].

In a Royal Decree issued by His Majesty Sultan Haitham Bin Tarik, the Muscat Securities Market will be transformed into a closed Omani joint-stock company, and will be renamed as the Muscat Stock Exchange Company SAOC.

MSM was established on 21st June 1988 as an independent body aiming at regulating the Omani securities market in order to complete and support the financial sector of the Sultanate.

As its core business, MSM supervises the trading of shares and works to lay the foundation of price fairness while maintaining the integrity of procedures such as the settlement of rights and obligations, fundamental among which are both parties sellers and buyers dealings.